January 2019 St. Charles Rent Report

Welcome to the January 2019 St. Charles Rent Report. St. Charles rents declined over the past month. In this report, we'll evaluate trends in the St. Charles rental market, including comparisons to cities throughout the metro, state, and nation.

January 2019 St. Charles Rent Report

Welcome to the January 2019 St. Charles Rent Report. St. Charles rents declined over the past month. In this report, we'll evaluate trends in the St. Charles rental market, including comparisons to cities throughout the metro, state, and nation.

St. Charles rents decline sharply over the past month

St. Charles rents have declined 7.1% over the past month, and are down sharply by 8.3% in comparison to the same time last year. Currently, median rents in St. Charles stand at $1,260 for a one-bedroom apartment and $1,490 for a two-bedroom. St. Charles' year-over-year rent growth lags the state average of 0.0%, as well as the national average of 0.9%.

Rents rising across the Chicago Metro

While rent prices have decreased in St. Charles over the past year, the rest of the metro is seeing the opposite trend. Rents have risen in 7 of the largest 10 cities in the Chicago metro for which we have data. Here's a look at how rents compare across some of the largest cities in the metro.

Joliet has the least expensive rents in the Chicago metro, with a two-bedroom median of $1,120; the city has also seen rents fall by 7.4% over the past year, the biggest drop in the metro.

Schaumburg has seen the fastest rent growth in the metro, with a year-over-year increase of 4.8%. The median two-bedroom there costs $1,670, while one-bedrooms go for $1,420.

Naperville has the most expensive rents of the largest cities in the Chicago metro, with a two-bedroom median of $1,760; rents grew 0.2% over the past month and 1.9% over the past year.

Many large cities nationwide show more affordable rents compared to St. Charles

As rents have fallen sharply in St. Charles, many large cities nationwide have seen prices increase, in some cases substantially. Compared to most large cities across the country, St. Charles is less affordable for renters.

Other cities across the state have seen rents increase, with Illinois as a whole logging rent growth of 0.0% over the past year. For example, rents have grown by 0.4% in Peoria.

St. Charles' median two-bedroom rent of $1,490 is above the national average of $1,180. Nationwide, rents have grown by 0.9% over the past year compared to the 8.3% decline in St. Charles.

While rents in St. Charles fell sharply over the past year, many cities nationwide saw increases, including New York (+2.7%), Denver (+2.5%), and San Francisco (+2.4%).

Renters will generally find more expensive prices in St. Charles than most large cities. For example, Peoria has a median 2BR rent of $800, where St. Charles is more than one-and-a-half times that price.

For more information check out our
national report.
You can also access our full data for cities and counties across the U.S. at
this link.

City

Median 1BR price

Median 2BR price

M/M price change

Y/Y price change

Chicago

$1,080

$1,270

-0.0%

1.3%

Aurora

$1,120

$1,320

0.7%

1.3%

Joliet

$950

$1,120

-7.3%

-7.4%

Naperville

$1,500

$1,760

0.2%

1.9%

Elgin

$990

$1,160

-1.5%

-1.5%

Arlington Heights

$1,250

$1,470

1.0%

2.1%

Evanston

$1,300

$1,530

-0.0%

2.3%

Schaumburg

$1,420

$1,670

2.9%

4.8%

Palatine

$1,170

$1,370

0.7%

3.8%

Des Plaines

$980

$1,150

-5.7%

-5.2%

Wheaton

$1,210

$1,430

0.3%

-1.1%

Hoffman Estates

$1,090

$1,290

-1.6%

-0.4%

Oak Park

$830

$970

-11.0%

-10.8%

Lombard

$1,380

$1,620

6.9%

8.0%

Crystal Lake

$1,220

$1,430

-2.4%

-1.9%

Carol Stream

$1,140

$1,350

2.8%

2.7%

Wheeling

$1,140

$1,340

-3.6%

-2.8%

Calumet City

$870

$1,020

-2.9%

-3.3%

Glendale Heights

$1,120

$1,320

-1.9%

-3.1%

St. Charles

$1,260

$1,490

-7.1%

-8.3%

Woodridge

$1,200

$1,410

-1.6%

2.2%

Woodstock

$970

$1,140

-0.8%

-1.8%

Westmont

$1,260

$1,490

3.0%

4.6%

Lisle

$1,210

$1,430

1.0%

2.9%

Park Forest

$980

$1,150

-0.1%

0.2%

See more

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.